Purchasing a real estate property is a serious and significant investment whatever the property you choose and some trading rules are the same in every real estate market. However, Singapore is specific in many aspects regarding its dynamic and complex real estate property market, as well as regarding the mere types of property the country offers. Since Singaporean real estate market is highly under the influence of foreign investors and global economy fluctuations, prices and offers at real estate market vary significantly over the time and require constant insight. At the same time, some types of real estate property, especially residential real estates are specific for Singapore. Here’s a review of some of the most common real estate offers at the market you will come across while searching for an adequate residence.
When choosing a residential real estate property in Singapore, the first thing to decide is whether you prefer (and can afford) landed or non-landed residential property. Due to competitive and more affordable prices, non-landed properties are more popular among locals and foreign investors but landed property is considered to be a trait of the highest economic and social standard. Working class usually settles in one of the several types of non-landed real estates. HBD flats, apartments, and condominiums are the most common types of residential property. Condos are quite popular due to their cozy construction, the location at the downtown, solid connection with city traffic and infrastructure. Also, condos provide commodities such as swimming pools, tennis courts, and many other convenient features. HBD flats are public, private estates and are slightly less comfortable, but rather affordable and their size may vary according to the number of tenants. If you prefer landed property, you get to choose among bungalows, terrace houses, semi-detached houses, and shophouses.
Singapore is the highly attractive location for starting or developing business. Thus there’s an increasing interest in commercial real estates among foreign and local companies. Depending on the location, commercial estates are divided into Grade A and B groups, each with its specific features and finally prices. There’s a myriad of various sizes and construction styles among commercial building depending on real estate’s primary purpose. Thus, you will find office blocks with classic building ideal for companies and small businesses, bigger buildings designed for larger companies or shopping centers and much more.
If the industrial branch is characterized by some traits, such as air pollution during industrial processes, causing noise, potential safety hazards and many similar aspects, then it requires the industrial type of real estate instead of commercial. Since Singapore hosts a wide range of enterprises and developing industry branches, it provides various types of leasing and purchasing industrial real estate properties. This includes different warehouses, storages, building constructed for factories, manufacturing firms, business parks and much more. These real estates are settled in separated zones of the country according to all term and laws referring industrial zone and real estates.